Many institutions must comply with various rules, policies, regulations, and guidelines, whether established internally, by a regulatory entity, or as a result of legislation (hereinafter “rules”). Because some of these rules may place responsibility on the institution for overseeing consistent compliance or adherence to the rules, there is an increasing need for a comprehensive process to manage rule compliance and task management across an entire business organization. For very large and geographically diverse organizations, these requirements can create a significant challenge and resource expenditure.
Prior efforts to manage rule based tasks required separate systems without readily available task oversight and management or reporting of task compliance across an enterprise. Moreover, the entity or individual charged with ensuring task compliance must manage a number of disparate systems where the day-to-day workflow cannot be conveniently and efficiently prioritized, monitored and scheduled. The use of separate systems also makes it difficult to ensure that tasks are handled in a consistent and uniform manner across the enterprise. Additionally, effective task management can at times uncover areas where improvements or remedial actions must be implemented. Generally, these efforts can lack currency and are sometimes not adequately monitored and tracked over time. Therefore, there is a need for an integrated process and system for efficiently managing and monitoring rule governed task compliance.